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MS Amlin
,
London, Greater London
Pricing Actuary
Overview
Job Description
1. Purpose The purpose of this role is to assist the Pricing Actuaries in meeting the analytical and pricing supports required by the MS Amlin Specialty Division. 2. Dimensions The Actuarial Analyst role will be part of a team of approximately 14 people, providing coverage for all Specialty businesses including the Property, Natural Resources, Marine, Crisis Management and Casualty subdivisions. The successful candidate will share responsibility for pricing models and the respective underwriting teams. This corresponds to approximately 1bn of gross net premium. 3. Key Result Areas and Deliverables: * Develop a strong working relationship with the Pricing Actuaries, Underwriters and Underwriting Management in the Specialty Division; * Support the development and deployment of pricing models and ensure that models comply with the Technical Pricing Framework ("TPF") and Pricing Policy; * Analyse external and internal data to build and validate technical pricing models; * Support underwriters in actuarial & technical issues, including case pricing, renewal monitoring, ELC calculations and business planning, challenging where appropriate; * Support the business and underwriters on other actuarial related matters such as reserving and Internal Model parameterisation; * Work with management to monitor the performance of the business, for example in the Class Performance Reviews giving an independent opinion on the quality of the risks written; * Maintain and develop management information available for analysis and reporting; * Liaise with other functions within the company such as Catastrophe Modelling and Group Underwriting Modelling when required; * Continue to work towards full actuarial qualification if applicable. 4. The Operating Environment and Context of the Job Under the Technical Pricing Framework ("TPF") all classes are to be modelled consistently. To meet this requirement, all pricing models are to be migrated to a new web-based technological framework with the assistance of the Technical Pricing Development Team. Pricing actuaries across MS Amlin will develop model prototypes with underwriters, and then pass specifications on to the Technical Pricing Development Team for transformation into fully fledged applications. Responsibility for testing and deployment will lie with pricing actuaries who will support underwriting teams in their use of models. The Actuarial Analyst will assist with this work, reporting to the Pricing Actuary and working with colleagues across the pricing team. Work after the migration period will focus on model maintenance and enhancement. If not already present, the role will require a rapidly developing set of commercial pricing skills. The drive to advance pricing across all classes is essential, along with the communication skills required to support underwriters through the changes. 5. Key Competencies: Generic Job Specific Good interpersonal skills Good communication skills (both oral and written) Ability to work well under pressure Attention to detail and ability to self-check work Proactive, flexible and adaptable Strong mathematical skills Pricing or Reserving experience in Specialty classes and/or personal lines an advantage Advanced knowledge of Excel Emblem, VBA and SQL advantageous 6. Key Interfaces: * The primary interface of this role is with the Specialty Pricing Actuaries at the first instance. As the successful candidate progresses, it would be expected that he/she will have increasing interactions with the Underwriting team; * Supporting the Technical Pricing Model Development Team and MS Amlin Tech in their development of TPF-compliant pricing models; * Liaison with Marine Management and Group Underwriting as and when required; * Support Group Actuarial in respect of reserving and capital modelling work.